AKBA Latest Report

Financial Performance

As of December 31, 2024, Akebia Therapeutics (stock code: AKBA) recorded a total operating revenue of RMB464.97 million, a YoY decrease of 17.19% from RMB561.96 million as of December 31, 2023. This change reflects the challenges the company faces in revenue generation, which may affect its overall financial health.

Key Financial Data

1. The total operating revenue in 2024 was RMB464.97 million, a YoY decrease of 17.19%.

2. R&D expenses in 2024 were RMB117.86 million, an increase of about 19.5% from RMB98.65 million in 2023.

3. The total revenue in the third quarter of 2024 was US$3.74 million, a YoY decrease of about 10.95%.

4. The net revenue from AURYXIA products decreased to US$3.56 million in 2024, a YoY decrease of about 11.22% from US$4.01 million in the same period last year.

5. The company has signed about 60% of its commercial supply contracts with major dialysis organizations and group purchasing organizations.

Peer Comparison

1. Industry-wide analysis: The demand for biopharmaceuticals in 2024 continued to rise, and the market share of biopharmaceuticals is expected to increase from 27% in 2019 to 31% in 2024. However, Akebia's declining revenue may indicate that it lacks market competitiveness in the overall industry's favorable environment and failed to effectively capture the growth in market demand.

2. Peer evaluation analysis: When compared with other companies in the industry, Akebia's total operating revenue decreased significantly, while competitors such as Hengkang and Rongchang Biologics recorded significant revenue growth in 2024, indicating challenges in market share and product competitiveness for Akebia.

Summary

Akebia Therapeutics' declining revenue reflects the significant financial pressure the company faces in a competitive market and sluggish product sales. Despite the overall rising demand for biopharmaceuticals, Akebia failed to capitalize on this opportunity, possibly due to internal management or marketing strategy deficiencies.

Opportunities

1. Strengthening its contractual relationships with major dialysis organizations to further enhance market share.

2. Increasing R&D investment to drive clinical trials for new products, which may bring new revenue growth points.

3. Focusing on the growth of chronic disease markets and adjusting its product line to meet market demand.

Risks

1. Intensified competition may lead to further shrinking of market share, affecting revenue.

2. Downward pressure on the macro economy may lead to tighter financing channels, affecting the company's development potential.

3. Continued sluggish product sales may limit profit growth and lead to a deterioration in financial health.